this post was submitted on 30 Jan 2025
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[–] A_Random_Idiot@lemmy.world 66 points 6 months ago* (last edited 6 months ago) (23 children)

the "currency" is rife with scammers because the "currency" is a scam.

its a pump and dump ponzi. Its digital Bernie Madoff for the new millenium.

all of them are. Every single one.

Yes even the one you, dear reader, like. Especially the one you like.

Thats why they are so unstable.

And its also why anyone that tried to use them as currency abandoned it almost as soon as they started, because losing 20% of your transaction in the 5 seconds the transfer and processing takes isnt a deal anyone but the most desperate to stay in the shadows criminals are going to accept.

[–] FeelThePower@lemmy.dbzer0.com -2 points 6 months ago (13 children)

except there are things like tether and usdc which are fixed to the value of the US dollar permanently.

[–] HeyJoe@lemmy.world 4 points 6 months ago (8 children)

Not sure why your down voted. I have used them before to transfer money and works fine. It's exactly why it exists. I wouldn't store money there, but for transfers and transfer out, they work perfectly fine.

[–] FeelThePower@lemmy.dbzer0.com -2 points 6 months ago* (last edited 6 months ago)

a lot of people on here are geezers and don't understand it. they are literally calling USD (the actual currency of the United States!!!) a pump and dump scam. thats all you need to know.

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